The Central Bank of Nigeria (CBN) has called for the support of state governors across the federation for its ongoing monetary policy reforms. The apex bank recently revealed that the reforms are aimed at restoring macroeconomic stability and rebuilding investor confidence in the Nigerian economy.
In a communiqué issued at the end of the Nigeria Governors’ Forum (NGF) meeting held on Thursday in Abuja, a presentation from the Governor of the CBN, represented by the Deputy Governor (Economic Policy), Dr. Muhammad Sani Abdullahi, briefed the governors on CBN’s ongoing stabilization measures targeted at reducing inflation, strengthening the naira, and enhancing liquidity management.
According to him, the bank’s reform agenda includes the tightening of monetary policy, the unification of exchange rate windows, and the recapitalisation of banks, all designed to guarantee price stability and increase general confidence in the financial system.
Responding, the governors commended the CBN for its coordination with fiscal authorities, stressing the importance of sustained partnership between both tiers of government to protect economic growth and ensure fiscal sustainability at the state level.
The Governors concluded by expressing appreciation to the DSS for its proactive engagement and pledging to deepen intelligence sharing and collaboration with federal security agencies to boost peace and stability across the country.
